associate sponsors


Large part of bank NPAs due to fraudulent advances: CAG

New Delhi: A "significant" part of the banks' non performing assets (NPAs) were a result of loans obtained by fraudulent methods, the Comptroller and Auditor General (CAG) of India, Shashi Kant Sharma said here on Friday.



"There is a significant part of NPAs that amounts to fraudulently obtained advances," Sharma said at the Assocham (Associated Chambers of Commerce and Industry of India) conference on financial and corporate frauds.

Sharma also added that a large part of these loans may now be irretrievable as they are likely to have been transferred abroad.

"There is also the belief that a large part of these advances may have been transferred abroad and may never be recovered," he said.

Updated Date: Jul 01, 2016 13:01 PM

Also Watch

Social Media Star: Abhishek Bachchan, Varun Grover reveal how they handle selfies, trolls and broccoli
  • Monday, July 16, 2018 It's a Wrap: Soorma star Diljit Dosanjh and Hockey legend Sandeep Singh in conversation with Parul Sharma
  • Monday, July 16, 2018 Watch: Dalit man in Uttar Pradesh defies decades of prejudice by taking out baraat in Thakur-dominated Nizampur village
  • Monday, July 16, 2018 India's water crisis: After govt apathy, Odisha farmer carves out 3-km canal from hills to tackle scarcity in village
  • Sunday, July 15, 2018 Maurizio Sarri, named as new Chelsea manager, is owner Roman Abramovich's latest gamble in quest for 'perfect football'